First time Buyer is the deal worth it?

[Steven Clark]

Hello,

I've been searching for a 3-4unit multifamily home in CT as first time home owner taking advantage of the CFHA program. Great interest rates (3.375%) and low down payment (5%). How ever the market is in a very short supply and finding a deal is hard been looking for 9 months now. Finally in negotiations with a 3 family however the cap rate is really low 1.0%. However the house with a renovated bath room and kitchen could probably get about 400$ more a  month per a unit. Which would put my cap rate at ~4.5%. Whats your thoughts BiggerPockets? Is this a good deal or am I get tired of living in my parents basement while I search for a home? 

Thanks!